Journal of Private Enterprise

Articles from Vol. 25, No. 1, Fall

Can't Buy Me Growth: On Foreign Aid and Economic Change
AbstractEvidence suggests that foreign aid does not promote economic growth. Institutions that promote entrepreneurship do promote growth. Understanding where these institutions come from is paramount to success. This essay analyzes and summarizes theory...
Can the West Help the Rest? A Review Essay of Sachs' the End of Poverty and Easterly's the White Man's Burden
AbstractThe rival opinions expressed by Jeffrey Sachs in his book The End of Poverty and by William Easterly in The White Man's Burden epitomize the dichotomy in the economics literature regarding the role of foreign aid in eliminating extreme poverty....
Economic Bias and Ideology: Evidence from the General Social Survey
AbstractThis paper examines the connection between political ideology and four distinct categories of economic bias: anti-market bias, make-work bias, anti-foreign bias, and pessimistic bias (Caplan, 2007). Self-identified Republicans and conservatives...
Income Tax Rates from 1913 to 2006
AbstractSince being enacted in 1913, the tax code constantly has been changing with rates on personal income ranging from less than 5 percent to more than 90 percent over the years. This paper highlights these changes by examining periods of historic...
It's Not Just Subprime!
AbstractMany writers have been quick to blame the high rate of foreclosures on subprime mortgages on what they call greedy, predatory lenders who exploited poor, unsophisticated, and uneducated borrowers. The problem with this interpretation is that...
Lessons to Be Learned from the Financial Crisis
AbstractThis article aims to take a careful and sober inquiry into the political and economic origins of today's financial crisis. We find that the political and economic causes of this crisis lie in the easy money policy of the Federal Reserve and the...
Principled Engagement in an Imperfect World
AbstractIn Latin America, as in most parts of the world today, those of us who want to create a better world must be willing to engage an imperfect world. But to be successful in that difficult quest we have to go armed with strong principles to educate...
Queuing, Conflict, and Violence
AbstractQueuing in response to prices below market-clearing levels increases the potential for conflict and violence among consumers. We consider how the potential for violence in queues varies with differences in demand and supply characteristics of...
Social Cohesion and Its Relationship to Endogenous Institutional Formation and Economic Growth
AbstractInstitutional quality is a known predictor of a country's ability to attain increased living standards. Unfortunately, a lack of institutional maturity remains among many countries in the developing world. One possibility for this shortfall is...
U.S. Airline Antitrust Policy and Empty Core Disequilibrium
AbstractThe concept of an "empty core" is applied to better understand the US airline industry and how anti-trust policy might best be altered to help the industry perform better for both consumers and investors. Horrendous financial losses over the...
Using Video Clips to Teach Creative Destruction
AbstractStories are memorable and convincing. One way to efficiendy tell stories is through movie and video clips. I summarize several video clips that may be useful in teaching aspects of Schumpeter's important theory of creative destruction. Among...